“Technological innovation, Bitcoin is also a political innovation.”

platform. Bitcoin and cryptocurrencies, the subject of much controversy, are technological innovations that will also prompt innovations in political philosophy. First, the global success of Bitcoin is actually the first successful realization of the machine vision of Enlightenment politics.

Second, the competition between unauthorized currencies such as bitcoin, private currencies, and public currencies puts the age-old question of who is “ruler” to the fore. Today these innovations affect the currency, but if successful, they could extend to other areas of the sovereign.

Automated way of government

After Newton (1642-1727) put the universe into equations, the philosophers of the Enlightenment were keen to expand his method to include other areas of knowledge, chief among them being politics.

The utilitarianism of Jeremy Bentham (1748-1832) aimed to define a social measure that government aims to maximize: utility. It remained only for science to determine how it should be measured in practice, and here the Bentham mechanism appeared naturally against a variety of opinions each and the impossibility of an objective interpersonal comparison of utility. The Marxist approach was less ambitious in its mechanical will.

Summarized by Friedrich Engels (1820-1895) with the formula “The government of the people will give way to run things”But they saw it more as a consequence of the end of the state with the rise of communism than as a teleological one. Then the mechanical premise fell into disuse, even as technology increased for its empire.

That’s when the Bitcoin event happened. For the first time, we witnessed the creation of an automated method of governance, and monetary creation is the prerogative of the ruler. Bitcoin is a mechanism because the public algorithm, known to all, makes it work in a deterministic manner. Just as Newton put the world into equations, so is the computerized monetary policy of bitcoin.

Regarding whether this method works, it is clear that thirteen years after its creation, hundreds of millions of users trust it; managed to attract more than 1000 billion dollars (about 884 billion euros) in capitalization; The algorithm continues to perform as originally intended with the mechanical precision of the watch.

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